Authorized the legislatures to develop regulatory regimes

Assignment Help Operation Management
Reference no: EM131147705

In 2012, both Colorado and Washington citizens passed ballot measures allowing the production, sale and use of marijuana for recreational purposes. In both cases, the ballot measure authorized the legislatures to develop regulatory regimes, and to impose taxes to pay for the regulation. (Note: in Colorado, those taxes had to be approved by a vote of the people, and they were, in 2013.)

Use the microeconomic theory we have been studying to analyze the legal and illegal markets for marijuana in Colorado or Washington, specifically with regard to the following issues:

Will the legal market survive or thrive if the taxes cause prices to be higher than the blackmarket? In other words, is demand in the legal market price elastic, or price inelastic. Use elasticity theory to explain your determination. Remember, the law of demand says that when price rises, quantity demanded falls. Elasticity helps us to answer the next question, "how much."

In what market structure will the retail establishments operate (perfect competition, monopoly, monopolistic competition, oligopoly). Explain. To address this question, your will need to know a bit about the regulations that have been passed. The local newspapers (in Colorado, the Denver Post) have provided good coverage of the issue, both before the 2012 vote, and during the process of crafting the regulations. In Colorado, an election guide, called the Blue Book, also provided some good analysis of the tax measure. It can be found on the web site of the Colorado General Assembly.

Reference no: EM131147705

Analyze using a tree diagram

A firm that plans to expand its product line must decide whether to build a small or large facility to produce the new products. If it builds a small facility and demand is lo

Pre-conventional morality and conventional morality

What are the differences between pre-conventional morality, conventional morality, and post-conventional morality? Give an example of each. Describe at least three situations

Schedule for introducing new product into the marketplace

You just have been instructed to develop a schedule for introducing a new product into the marketplace. Below are the elements that must appear in your schedule. Arrange these

Care business partner training program

Describe how you would incorporate adult learning principles and methods of experiential learning from this course into the Maersk Customer Service – CARE Business Partner tra

Make the same mistakes when planning for venture financing

Over and over again, entrepreneurs make the same mistakes when planning for venture financing. Experienced investors are alert for the pitfalls. Identify three financing pitfa

About the quantity and quality

QUANTITY: How long/ short do these lists come out as? What does this say about the relative significance these “things” have for us? QUALITY: How positive/ negative are the wo

Will their marketing strategy support their drive for growth

Cisco has been a world-class leader in networking equipment for the IT industry for many years.In the past 10 years they have become one of the industry leaders in company acq

The expense involved in developing the initial molds

You are considering the possibility of starting a company to produce sailboats. Because of the expense involved in developing the initial molds and acquiring the necessary equ

Reviews

Write a Review

 
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd